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| Cable Car Corporation causes loss of whopping Rs 57.70 lakh to public exchequer | | Inquiry grounded for years, file shelved sans any reason | | Early Times Report
Jammu, Feb 2: In yet another display of inefficacy, Jammu and Kashmir State Cable Car Corporation Limited has caused loss of more than Rs 57.70 lakh to the government exchequer for failing to implement the proposed project in Srinagar outskirts.
As per the official documents in possession of Early Times, Jammu and Kashmir State Cable Car Corporation Limited acquired a plot of land at a cost of Rs 1.25 crore for construction of a building that was also to house its head office which was in a rented building.
However, the official documents reveal that no progress was achieved by the concerned department in construction of the building despite lapse of five years thereby defeating the objective of the expenditure on land acquisition as well as resulting in avoidable payment of rent Rs 57.70 lakh.
The initial investigation has revealed that the Board of Directors (BoD) of the Jammu and Kashmir State Cable Car Corporation Limited (Company) decided in December 2008 to acquire a piece of land measuring 2.5 kanals at Bemina in Srinagar from the Jammu and Kashmir Industries Limited (JKI) for construction of a multi-storeyed commercial building.
It has been informed further that a part of the building was to be utilized for accommodation of the Head Office of the Company that was functioning from a rented building. Jammu and Kashmir Industries Limited (JKI) sanction for transfer of the land in favour of Jammu and Kashmir State Cable Car Corporation Limited in January 2010 at the rate of Rs 50 lakh per kanal.
The Company released in the month of June 2010 Rs 1.25 crore in favour of Jammu and Kashmir Industries Limited or JKI for the land and took possession of the site in June 2011.
The documents have revealed that despite lapse of over five years, the Company had so far failed to allot construction work to any agency. The Jammu and Kashmir State Cable Car Corporation Limited continued to house its Head Office in a rented building defeating the very purpose of acquiring land and had paid Rs 85.49 lakh on account of rent for the rented building during July 2010 to March 2016. Allowing a margin of one and half years for construction of building, the Jammu and Kashmir State Cable Car Corporation Limited had incurred an expenditure of Rs 57.70 lakh on account of rent for the office building which could have been avoided.
As per the reports, there has been no forward movement in the inquiry over the reasons behind such an inordinate delay in the construction of the project that as per the documents has caused a loss of about half a crore rupees to the state exchequer.
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